Shares of Marvell Technology Group Ltd. (NASDAQ:MRVL) have been assigned a consensus recommendation of “Buy” from the twenty-six ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, eight have assigned a hold recommendation, thirteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have covered the stock in the last year is $18.56.
MRVL has been the topic of several recent analyst reports. CIBC raised Marvell Technology Group from a “market perform” rating to an “outperform” rating in a research report on Friday, May 26th. BidaskClub lowered Marvell Technology Group from a “sell” rating to a “strong sell” rating in a report on Wednesday, August 2nd. TheStreet raised Marvell Technology Group from a “c” rating to a “b” rating in a report on Thursday, May 25th. Zacks Investment Research lowered Marvell Technology Group from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Finally, Needham & Company LLC reissued a “buy” rating and set a $21.00 target price on shares of Marvell Technology Group in a report on Tuesday, April 18th.
Marvell Technology Group (NASDAQ MRVL) opened at 15.05 on Friday. The firm has a market cap of $7.56 billion, a P/E ratio of 50.84 and a beta of 1.10. Marvell Technology Group has a one year low of $11.30 and a one year high of $18.18. The stock’s 50 day moving average is $16.22 and its 200 day moving average is $15.97.
Marvell Technology Group (NASDAQ:MRVL) last posted its quarterly earnings results on Thursday, May 25th. The semiconductor company reported $0.20 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.04. The firm had revenue of $579.18 million for the quarter, compared to analyst estimates of $570.72 million. Marvell Technology Group had a return on equity of 7.96% and a net margin of 6.19%. The business’s quarterly revenue was up 11.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.01 EPS. On average, equities research analysts expect that Marvell Technology Group will post $1.10 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 21st. Shareholders of record on Wednesday, July 5th were issued a $0.06 dividend. The ex-dividend date was Friday, June 30th. This represents a $0.24 annualized dividend and a yield of 1.59%. Marvell Technology Group’s payout ratio is currently 82.76%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Profund Advisors LLC raised its position in Marvell Technology Group by 19.1% in the first quarter. Profund Advisors LLC now owns 80,048 shares of the semiconductor company’s stock worth $1,222,000 after buying an additional 12,821 shares in the last quarter. First Trust Advisors LP raised its position in Marvell Technology Group by 136.8% in the first quarter. First Trust Advisors LP now owns 364,273 shares of the semiconductor company’s stock worth $5,559,000 after buying an additional 210,421 shares in the last quarter. Dynamic Technology Lab Private Ltd raised its position in Marvell Technology Group by 18.2% in the first quarter. Dynamic Technology Lab Private Ltd now owns 20,203 shares of the semiconductor company’s stock worth $309,000 after buying an additional 3,106 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in Marvell Technology Group by 454.8% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,777 shares of the semiconductor company’s stock worth $122,000 after buying an additional 7,195 shares in the last quarter. Finally, Franklin Resources Inc. raised its position in Marvell Technology Group by 7.7% in the fourth quarter. Franklin Resources Inc. now owns 14,079 shares of the semiconductor company’s stock worth $195,000 after buying an additional 1,006 shares in the last quarter. Institutional investors own 74.62% of the company’s stock.
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About Marvell Technology Group
Marvell Technology Group Ltd. is a semiconductor provider of application-specific standard products. The Company is engaged in the design, development and sale of integrated circuits. The Company develops System-on-a-Chip (SoC) devices. It also develops integrated hardware platforms along with software that incorporates digital computing technologies designed and configured to provide an optimized computing solution.
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